The legalization of adult-use marijuana in New York state has paved the way for a new era of cannabis consumption, with licensed dispensaries now offering high-end cannabis products in luxury retail settings. The Travel Agency on Fifth Avenue is one such example, where shoppers can purchase not only premium jewelry and clothing but also locally-grown marijuana joints. With over 50 licensed dispensaries in New York City alone, the luxury cannabis market is rapidly expanding.
The Travel Agency sets itself apart from traditional dispensaries with its upscale interiors, glass cabinetry, and knowledgeable staff known as “budtenders.” Founder Paul Yau prides himself on the chic storefronts of his establishments, including locations in Union Square and Downtown Brooklyn. The average purchase at The Travel Agency ranges from gummies to pre-rolls, with prices averaging between $80 to $90 per ticket. Additionally, a portion of the proceeds from the Union Square location goes towards supporting the Doe Fund, aiding formerly incarcerated individuals.
While the “legacy” customer base has always been present in New York, The Travel Agency aims to attract a new wave of “canna-curious” consumers. By offering curated product selections and creating architecturally inspired spaces, Yau hopes to ease newcomers into the legal cannabis market. The store’s design specifically caters to demographics like the 40-year-old female shopper, who appreciates the boutique-like atmosphere and expert guidance provided by staff members.
THC seltzer company Cann is targeting consumers who may have had negative experiences with marijuana in the past. By packaging their products in small, pastel cans and emphasizing approachability, Cann hopes to attract new customers with low-dose options. The company’s 12-pack of 2 milligram THC seltzers sells for $49.95, positioning itself as a premium alternative to traditional alcoholic seltzers.
The Lifestyle Connection
Luxury brands like Jonathan Adler and Edie Parker are also cashing in on the upscale cannabis experience by offering designer home decor items and smoker-friendly accessories at premium price points. Actor Seth Rogen’s brand, Houseplant, collaborates with high-end retailers like Kith to create exclusive cannabis-inspired products for discerning consumers. The potential for partnerships between luxury cannabis dispensaries and fashion brands is vast, with opportunities to capitalize on the “coolness” factor of the cannabis industry.
Cann, backed by high-profile investors like Gwyneth Paltrow and Baron Davis, targets a premium, millennial consumer base with its hemp-derived seltzers. By partnering with luxury venues like the Montauk Surf Lodge, Cann is strategically positioning itself in front of affluent audiences willing to indulge in high-end cannabis products. Co-founder Jake Bullock sees the competition as alcohol, positioning Cann as a sophisticated alternative for those looking to spend big on premium beverages.
The luxury cannabis market is experiencing a renaissance in the heart of New York City, with dispensaries like The Travel Agency setting the standard for high-end cannabis retail. As the industry continues to evolve and attract new demographics, the intersection of luxury and cannabis is a trend to watch in the world of retail and lifestyle brands.